Ridgway, CO asked in Business Formation, Business Law and Contracts for Colorado

Q: How best can 3 individuals located in 2 different U.S. states and the UK form a viable business?

The three of us are all small business marketing coaches, working under individual DBA's and or LLC's. We want to know how best we can merge our resources together into some kind of partnership, business or entity. We're unsure what the best approach is considering the various differences in business structure and banking laws in each country.

We are currently working together under a written Joint Venture Agreement, and have gotten our big break partnering with a start-up and need to create a more inclusive legal working relationship in 2020.

Any insight or additional information you can provide is greatly appreciated.

Thank you kindly.

1 Lawyer Answer

A: Justia is a wonderful free online legal forum established to allow members of the general public to ask general legal questions to experienced lawyers who volunteer their valuable time to do so. Your important small business question is much to important--and too complicated--to be solved online.

The three of you should pool some of your resources and invest in (hire) a very experienced small business lawyer of your choosing--one who has done this complicated stuff before and can work for all of you--as a group--to avoid the possibility of conflicts going forward.

If none of you have consulted or retained a small business lawyer you are strongly encouraged to do so--before all of you make very costly mistakes.

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